The challenges associated with launching a new business enterprise are manifold. An entrepreneur needs to avail him- or herself of all resources to assist in getting a venture off the ground and onto a productive path. Included on the list of these positive resources is a mentor. There exist a number of key benefits associated with engaging a mentor when starting a new business venture.
Although an entrepreneur is an individual who thinks outside of the box when launching a startup, that does not mean he or she need go it alone. Innovative thinking does not mean that an entrepreneur should not turn to a mentor to glean insights from that individual’s experience.
Experience counts when launching a startup. For example, by turning to a mentor, an entrepreneur intent on starting a new business can learn from mistakes made by another. Equally important, an entrepreneur can learn about tactics that were profoundly useful and effective for a mentor who previously started a business enterprise
Launching a startup can be exiting. However, starting a new business usually has as many downs as ups. Indeed, along the way, an entrepreneur may experience more disappointments than moments of elation or even satisfaction.
Another primary role that a mentor plays is to provide encouragement to a sometimes beleaguered entrepreneur striving to launch or advance a new business venture. Many entrepreneurs candidly confide that they would have abandoned their efforts had it not been for the sage support of a mentor during dark moments on the road to a startup launch or enterprise expansion.
Mentor Broadly Defined
Keep in mind that a mentor for an entrepreneur need not be another entrepreneur. For example, if an entrepreneur is launching a startup in software industry, a useful mentor could be a software developer with no background whatsoever in business development.
In many cases, one mentor is good, multiple mentors are great. An entrepreneur working on starting a new business, or advancing an existing one, should have an open-door policy when it comes to potential mentors. Contrary to the cliché, an entrepreneur does not know where the “next good idea” may come from at any given moment. Input from others is crucial
An entrepreneur launching a new venture has many tasks on his or her list, including financing and seeking appropriate key team members. A crucial team member need be a qualified, experienced and wise mentor.